The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the country’s bold initiative to sell crude oil to local refiners, who then sell petroleum products in Naira, is yielding positive results. Mr Edun disclosed this at a meeting with President Bola Tinubu on Tuesday. He said this initiative, made … Read more
Nigeria’s Aviation Minister, Festus Keyamo, on Friday, said divers deployed to recover the remaining bodies and wreckage from the Port Harcourt helicopter crash that occurred on Thursday are yet to find any. PREMIUM TIMES reported the accident involving a Sikorsky SK76c helicopter with registration number 5N-BQG, operated by East Wind Aviation in Rivers State. The … Read more
The removal of petrol subsidy in Nigeria has effectively eliminated the incentives enjoyed by smugglers, Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPC Ltd), Mele Kyari, has said. Mr Kyari, who spoke in an interview with Channels TV on Sunday, explained that the subsidy created a price disparity between Nigeria and its … Read more
The Corporate Affairs Commission (CAC) has dissolved the downstream arm of the Nigerian National Petroleum Company Limited (NNPC Retail) and Nueoil Energy from its database, a check by PREMIUM TIMES has shown. The companies’ dissolution follows the acquisition by OVH Energy Marketing Limited. Last Week, PREMIUM TIMES reported how a court ruling had effectively dissolved … Read more
The Dangote refinery said it never accused the National Petroleum Company Limited (NNPC Ltd) of not supplying the company with crude. The company in a statement on Thursday by its Group Chief Branding and Communications Officer, Anthony Chiejina, made this known in reaction to reports alleging that it has backtracked by acknowledging that NNPC supplied … Read more
The Senate on Wednesday constituted a 15-member committee to unravel the circumstances surrounding the persistent importation of hazardous petroleum products by the Nigerian National Petroleum Corporation Limited (NNPCL). The Senate President, Godswill Akpabio, announced the composition of the committee during the plenary. He said the committee will be chaired by the Senate Leader, Opeyemi Bamidele. … Read more
Renowned Nollywood director and screenwriter Reginald Ebere is dead. The award-winning filmmaker died on Sunday. The National Secretary of the Directors Guild of Nigeria (DGN), Perekeme Odon, confirmed his death. The industry is deeply mourning this loss. “We are deeply saddened to share the news of the passing of our dear brother and colleague, Mr … Read more
The House of Representatives has decried the recurring destruction of oil and gas pipelines in the country and persistent lack of transparency in the operations and regulatory activities in the sector. Alhassan Ado-Doguwa, chairperson, Special Committee on Oil Theft, condemned the act at a meeting with the Nigerian National Petroleum Corporation (NNPC) Ltd in Abuja. … Read more
The Nigerian government on Tuesday said international oil companies (IOCs) are not leaving the country but only shifting their portfolio and further investments to deep offshore. Nigeria’s Minister for State, Petroleum Resources (Oil), Heineken Lokpobiri, disclosed this at the opening ceremony of the 7th edition of the Nigeria International Energy Summit (NIES 2024) held at … Read more
Nigerian National Petroleum Company Limited recorded a profit after tax of N2.5 trillion for the 16 months to December 2022, its latest audited financials show. The new report breaks away from the previous tradition that set the annual financial year end of the oil firm at around August, with subsequent financials likely to follow a … Read more
